Camlin Fine Sciences rises for sixth day in row

Camlin Fine Sciences jumped 7.09% to Rs 111.33, extending its wining streak for sixth day in a row.

The stock has added 28.04% in six sessions while the benchmark S&P BSE Sensex has risen 6.70% in that same period.

On the daily chart, the stock has is currently trading above its 50-day and 100-day simple moving average (SMA) place at 101.50and 109.48, respectively. It is, however, trading below its 200-day SMA positioned at 128.06.

In a regulatory filing made during market hours today, Camlin Fine Sciences said that its wholly owned subsidiary Dresen Quimica SAPI De CV, Mexico, has entered into an share purchase agreement (SPA) to acquire 100% stake in Vitafor Invest NV, Belgium, and its underlying subsidiaries/associates.

Vitafor manufactures and trades in products catering to the animal feed industry. Vitafor offers a complete range of feed ingredients, nutritional products, hygiene products and disinfectants, allowing customers to buy all they need in one place.

During the calendar year 2023 (Jan. 2023 to Dec. 2023), Vitafor generated a turnover of euro 16.55 million with a net loss of euro 1.18 million. For the aforesaid year the net worth of Vitafor was approximately euro 6.78 million. Consolidated debt of the Vitafor Group is approximately euro 6.5 million.

Camlin Fine Sciences subsidiary Dresen shall acquire 100% stake in Vitafor, at a consideration aggregating to euro one only.

Dresen is engaged in manufacturing and distributing specialty intermediate chemical solutions used by the feed, food and other industrial products. Dresen has large products portfolio, having proper sales mix with relevant installed capacity to support future growth. Dresen markets its products through its own sales force directed from its headquarters in Mexico and its branches and a network of distributors in North, Central and South America.

The product basket of Vitafor will be aligned with the Companys Group and marketing of the basket products will be carried out with the existing customers. The acquisition could be an excellent synergy to grow the product lines of Vitafor with the existing customers.

The Group will use the facility of Vitafor and Vitafors network to augment and grow in the European feed and pet food market and also in the African market.

Camlin Fine Sciences is one of the leading manufacturers of antioxidants and vanillin manufacturers in the world. CFSL categorises its business into three different verticals based on its product portfolio: shelf-life solutions (which include antioxidants, its blends and additives), performance chemicals, aroma chemicals, and health and wellness.

On a consolidated basis, for fiscal 2024, loss after tax was Rs 104.88 crore on revenue from operations of Rs 1,613.06 as per the latest financial statement issued the company. Profit and revenue for FY23 were Rs 39.81 crore and Rs 1,681.56 crore, respectively.

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